Frequently Asked Acura Lease-Related Questions
Curious about leasing a car but don’t know where to begin? If so, you’ve come to the right place because we've got everything that you need to understand to get a great lease deal on a new Acura!
So why lease an Acura and not finance it as you have always done? The best way to get a new car without the significant cost is by leasing. Leasing has lower monthly payments but it also comes with restrictions, such as mileage limits or requiring that you return it at the end of your lease term in good condition (or pay a fee if you don’t).
With that out of the way, here are the answers to the most frequently asked questions when it comes to leasing a new Acura sedan or SUV.
1. How to tell if leasing an Acura sedan or SUV is right for me?
Leasing a car can make sense if you prefer to pay less per month for your vehicle, not worry about maintenance costs or how to sell it when you want a new one. Lease offers are worth exploring because they offer payments that may be lower than the average monthly payment of buying on credit and there's no long-term commitment with leasing!
2. To lease or to buy a vehicle – what’s better?
The short answer is "it depends." That's because there are benefits and drawbacks to both that need consideration. If you intend on driving the same car for a while, then it could be worth buying one; but if not, and you don’t drive many miles annually, leasing might work better.
3. What’s the cost to lease a new Acura?
The cost to lease a new Acura depends on the following – the sale price, sales tax, down payment, depreciation fee, and the residual value of the vehicle.
4. Is it possible to buy the vehicle at the end of the lease term?
If you like the Acura that you've been leasing you can purchase it! If your lease is about to end and there's a buyout clause in your contract, talk to the leasing manager. They may be able to help make this happen without any additional fees (though that can't always be guaranteed).
5. Is the security deposit refundable?
Security deposits are refundable as long as you meet the specifications in your contract at the end of an agreed lease. Some contracts will require a non-refundable deposit, so make sure to read it thoroughly and ask questions before committing. There's also a difference between paying for security deposits or down payments; only one is refundable after fulfilling all contractual obligations on time.
6. Do I need a perfect credit score to lease an Acura?
To be eligible for financing on a car, it is best to have at least an "average" credit score. If you are looking to improve your credit score and potentially lower the cost of leasing or buying your next vehicle, make sure that you pay any due balances on time every month!
7. Can I lease an Acura sedan or SUV with $0 down?
Yes, you can lease an Acura with $0 down but that means higher monthly payments. Keep in mind that when you see offers for the car and leases that offer nothing upfront then there are often other costs such as license, tax, and registration fees before your keys will be handed over!
8. Is car maintenance included in the monthly lease payments?
Maintenance is covered up to a certain amount within the lease period by the manufacturer’s warranty. In most cases, you receive two oil changes and two tire rotations (over two years of your lease) at no cost to you through your lease agreement.
9. Can I get out of my lease early?
Yes! McGrath Acura of Westmont even encourages you to turn your lease in early. While you are required to pay any remaining costs defined in your original lease, we’ll take your car back while you receive a significant value and have no obligation to lease again.
Get Out of Your Lease Early at McGrath Acura of Westmont
Ready to get out of your lease early? We’re here to take it back when you’re ready, even if you still have payments. Just call the team at McGrath Acura of Westmont at 630-521-3362 to get started!